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News & Press: State News

TX Retired Teachers Face 'Death Spiral' in Health Insurance

Wednesday, May 3, 2017  
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(Dallas Morning News) An insolvent health insurance program for retired Texas teachers on fixed incomes will force them to pay much, much more for coverage if lawmakers don’t infuse the system with cash and let it dial back benefits, according to lawmakers and experts.

 

Painful changes are coming, no matter what, because over the next two years, the Teacher Retirement System of Texas’ “TRS-Care” program is expected to have nearly $1.1 billion less than it needs to pay the bills.


The 32-year-old program could buckle and begin to collapse in the 2018-2019 budget cycle unless lawmakers give it more money and flexibility to make plan changes before the session ends May 29, said key legislators and the head of a retiree group. More...


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